US congressional committee blasts Sifi designation process
US lawmakers and insurance regulators are increasingly critical of the extent to which the Financial Stability Board might be influencing the designation of US systemically important financial institutions
US insurance regulators and lawmakers are demanding to know more about how the Financial Stability Board (FSB) designates non-bank globally systemically important financial institutions (G-Sifis) amid concerns that FSB decisions are influencing the designation process for US systemically important financial institutions (Sifis).
The US House of Representatives Committee on Financial Services sent a letter on May 9 to secretary Jacob Lew of the US Treasury; Janet Yellen, chair of the Federal
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